The infrastructure monitoring market is estimated to grow from USD 1.48
Billion in 2018 to USD 3.38 Billion by 2023, at a CAGR of 17.93% between
2018 and 2023.

The factors that are driving the infrastructure monitoring market
include aging infrastructure and the superior benefits of infrastructure
monitoring, a decrease in the cost of sensors that results in reducing
the infrastructure monitoring system cost, and stringent environmental
regulations pertaining to the sustainability of structures, among many
others.

The growth of the infrastructure monitoring market in the Americas is
likely to be propelled by the driving factors such as the aging
infrastructure, support from various governments in the region, and
increasing need for effective solutions for the maintenance of
infrastructure facilities. Furthermore, according to the Federal Highway
Administration (FHWA) in the US, more than 30% of the structures, such
as bridges and tunnels, have exceeded their 50 years of design life. So,
to enhance the public safety and improve the structural lifespan, the
implementation of the infrastructure monitoring system is a must. Such
factors would further contribute to the growth of the market in the
Americas.

Market Dynamics

Drivers

Catastrophic Failure of the Infrastructure Results in Loss of Lives
and Incurs Higher Costs

High Capital Investments for Structural Health Monitoring Across
Various Countries Worldwide

Stringent Government Regulations Pertaining to Sustainability of
Structures